18 Dec 2010
(MENAFN) Kuwait Fund for Arab Economic Development (KFAED) has announced the signing of a $13 million loan agreement with the Republic of Benin for a project to upgrade the roads network, Kuwait Times reported.
KFAED said in a statement that the agreement was signed in Benin’s economic capital of Cotonou and it aims at upgrading the Ouidah-Allada road and its Baho-Tori branch, making clear that the project would support the economic and social development in the country, as well as fight poverty in the south western areas through improving the roads linking it to Cotonou.
It added that improving the infrastructures and roads in this area will contribute to reducing the costs of transporting farm products and will provide an access to markets and social services, in addition to further easing the international land transportation and reducing traffic jams at the western entrance of Cotonou.
It said that the acting minister of finance and economics signed the agreement on behalf of the Government of the Republic of Benin, while it was signed by KFAED’s Deputy Director General Hisham Al-Wuqayyan on behalf of the fund.
With this loan agreement signed, KFAED offered up till now 11 loans to the Republic of Benin, with a total of $83.6 million.
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more